Your Ability to Withdraw Funds.
Our policy is to make funds from your cash deposits available to you on the first business day after the day we receive your deposit. Our policy for check deposits is to make funds available to you not later than the second business day after the banking day on which funds are deposited. Once the funds are available, you can make cash withdrawals or we can use the funds to pay checks that you have written. Please remember that even after we have made funds available to you, and you have withdrawn the funds, you are still responsible for checks you deposit that are returned to us unpaid and for any other problems involving your account.
For determining the availability of your deposits, every day is a business day, except Saturdays, Sundays and Federal holidays. If you make a deposit before 4:30 p.m. on a business day that we are open, we will consider that day to be the day of your deposit. However, if you make a deposit after 4:30 p.m. or on a day we are not open, we will consider that the deposit was made on the next business day that we are open. Your electronic direct deposits will be available on the day the bank receives the deposit.
Longer Delays May Apply.
Funds that you deposit by check may be delayed for a longer period under the following circumstances:
- We believe a check that you deposit will not be paid.
- You deposit checks totaling more than $5,000 on any one day.
- You redeposit a check that has been returned unpaid.
- You have overdrawn your account repeatedly in the last six months.
- There is an emergency within the bank, such as a failure of communications or computer equipment.
- You request transfer of uncollected funds.
We will notify you if we delay your ability to withdraw funds for any of these reasons, and we will tell you when the funds will be available. They will generally be available no later than the seventh business day after the day of your deposit.
Special Rules For New Accounts.
If you are a new customer, the following special rules will apply during the first 30 days your account is open.
Funds from electronic direct deposits into your account will be available for withdrawal on the day we receive the deposit. Funds from deposits of cash, wire transfers and the first $5,000 of a day's total deposits of cashier's, certified, teller's, traveler's and federal, state and local government checks will be available on the first business day after the day of your deposit if the deposit meets certain conditions. For example, the checks must be payable to you (and you may have to use a special deposit slip). The excess over $5,000 will be available no later than the ninth business day after the day of your deposit. If your deposit of these checks (other than U.S. Treasury check) is not made in person to one of our employees, the first $5,000 will not be available until the second business day after the day of your deposit.
Funds from all other check deposits will be available on the ninth business day after the day of your deposit.